Asia Markets Face More Pain After China Retaliates With Higher Tariffs - Dollar Advisory Financial Services

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Tuesday 14 May 2019

Asia Markets Face More Pain After China Retaliates With Higher Tariffs


The escalating trade war between the United States and China is causing fresh pain for global investors. Beijing announced late Monday that it would raise tariffs on $60 billion worth of US goods from June 1. That comes after the United States hiked tariffs from 10% to 25% on $200 billion value of Chinese exports on Friday following a breakdown in trade talks between the world's top two economies.
Investors around the world fear a protracted trade war in which both the United States and China continue to raise tariffs. US businesses that import Chinese goods pay the tariffs levied by the United States. Companies either eat that cost, which pinches their profits; or they pass the cost onto consumers, which can hurt demand for their products.

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